The Nigerian equities market sustained positive sentiments yesterday, as market capitalisation appreciated by N542 billion, driven by investors realigning their portfolios in anticipation of the new year rally.

The all-share index rose by 849.7 per cent, representing a gain of 0.55 per cent, to close at 154,389.53 points, regaining a year-to-date gain of 50 per cent for the first time since October 28, 2025.

The overall market capitalisation value gained N542 billion to close at N98.432 trillion. The market’s positive performance was driven by price appreciation in large and medium capitalised stocks, which are Guinness Nigeria, BUA Foods, Eunisell Interlinked, UACN and Ecobank Transnational Incorporated (ETI).

On market performance for this week, United Capital Plc said: “The Nigerian equity market is likely to trade cautiously positive this week, supported by steady GDP growth, strong external reserves, and broad-based sector gains. Investors will focus on fundamentally strong stocks in consumer goods, banking, and industrials, while profit-taking may limit sharp rallies.”

Sectoral performance closed on a mixed note, with the Consumer Goods sector leading the gainers after advancing by 2.16 per cent. This was followed by modest upticks in the Industrial sector, which rose by 0.19 per cent, and the Oil and Gas sector, which edged higher by 0.01 per cent. In contrast, the Banking sector recorded a decline of 0.28 per cent, while the Insurance and Commodity sectors ended the session largely unchanged.

Market breadth was positive with 41 gainers surpassing 37 losers. Austin Laz and Company and ETI recorded the highest price gain of 10 per cent each to close at N3.52 kobo and N41.80 kobo respectively, while Eunisell Interlinked followed with a gain of 9.95 per cent to close at N96.70 kobo.

Honeywell Flour Mills appreciated by 9.86 per cent to close at N19.50 kobo, while Guinness Nigeria rose by 9.82 per cent to close at N349.90 kobo. On the other hand, International Energy Insurance led the losers’ chart by 10 per cent to close at N2.34, while Meyer and eTranzact International followed with a decline of 9.92 per cent to close at N11.35 kobo.

Livestock Feeds shed 9.6 per cent to close at N5.65, while C&I Leasing lost 8.06 per cent to close at N5.70 kobo. However, the total volume of trade declined by 16.98 per cent to 1.468 billion units, valued at N35.544 billion, and exchanged in 47,892 deals.

Transactions in the shares of Access Holdings topped the activity chart with 594.380 million shares valued at N12.362 billion. Champion Breweries followed with 122.087 million shares worth N1.84 billion, while FCMB Group traded 116.611 million shares valued at N1.26 billion. Japaul Gold & Ventures traded 66.156 million shares valued at N155.253 million, while First HoldCo transacted 51.529 million shares worth N2.568 billion.

Meanwhile, the naira strengthened by 0.06 per cent at the Nigerian Autonomous Foreign Exchange Market window yesterday, closing at N1,442.51 to the dollar, as relative stability in the regulated market continued to support the local currency.

The marginal appreciation reflected improved confidence among market participants, aided by official market frameworks and moderated demand pressures within the formal trading segment.

However, the currency followed a contrasting path in the parallel market, where it depreciated by 0.42 per cent to N1,461 to the dollar. The decline underscored persistent liquidity tightness and strong demand for foreign exchange outside the official window, driven largely by retail and speculative activities.

The divergent performance across the two markets highlights the structural disconnect within Nigeria’s foreign exchange landscape, with investors and businesses closely watching policy developments and supply dynamics for clearer signals on the naira’s near-term direction.